Obama Ready to Play Hardball on Fiscal Cliff

President Obama “is prepared to veto legislation to block year-end tax hikes and spending cuts, collectively known as the ‘fiscal cliff,’ unless Republicans bow to his demand to raise tax rates for the wealthy,” the Washington Post reports.

“Freed from the political and economic constraints that have tied his hands in the past, Obama is ready to play hardball with Republicans, who have so far successfully resisted a deal to tame the debt that includes higher taxes… In the days after the November election, the tables will be turned: Taxes are scheduled to rise dramatically in January for people at all income levels, and Republicans will be unable to stop those automatic increases alone.”